Service & Supply | Quarterly / Earnings Reports | Oilfield Services
RPC Feeling Pressure From Competitive Service Market
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RPC, Inc. has announced its unaudited results for the third quarter ended September 30, 2013.
For the quarter ended September 30, 2013, revenues increased 4.0 percent to $491.1 million compared to $472.4 million in the third quarter of last year. Revenues increased compared to the prior year primarily due to higher activity levels in several of our largest service lines, partially offset by lower pricing in all of our service lines. Operating profit for the third quarter decreased to $85.8 million compared to operating profit of $102.4 million in the same period the prior year, principally because of lower pricing for our services.
For the nine months ended September 30, 2013, revenues decreased 6.8 percent to $1.4 billion compared to $1.5 billion last year. Net income was $129.3 million…
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